Climbing Rates

Thanks to the capacity crunch, rates are expected to increase…by a lot. Spot market and contract rates are predicted to rise due to the lack of trucks and robust tonnage growth…which ultimately effects other industries from manufacturing to logistics to retail. On top of that, interest rates may be influenced by an increase in national debt and trade difficulties with China.

Tech Movement

If 2018 was a big year for tech in trucking, 2019 may be even bigger. While the ELD mandate continues to divide opinions, additional freight apps are continually developed to benefit fleets and drivers alike. Mobile apps connecting truck drivers to jobs or allowing carriers to receive faster payment are only a few of the offerings that join rank in the interest of autonomous vehicles and electric-powered trucks.

Smaller Fleets

Market data shows that out of hundreds of thousands of driver jobs created in the past half-decade, “more than a two to one ratio, drivers are entering one-to-100 truck fleets,” with the majority of those starting or joining fleets of one to six trucks. The capabilities that smaller fleets and drivers can access through tech are strengthening the ability to work independently, a trend seen among a host of industries.

Blockchain

The focus on data has only shed more light onto the benefits of blockchain for transportation. Using software that increases transparency through a distributed ledger with concrete data shared across multiple parties. However, widespread adoption will likely take time as it will be difficult to standardize software for trucking companies utilizing a wide variety of platforms.